BTC Spot ETF Outflows Reach $320M in August: Second Highest Since April
CryptoNewsTerminal Staff18 Aug, 2024
BTC Spot ETF Outflows Reach $320M in August: Second Highest Since April
Bitcoin spot exchange-traded funds (ETFs) experienced net outflows of $320 million in August, marking the second-largest outflow since April, according to a report by crypto market analysis firm 10xResearch. Despite the potential for cryptocurrencies to appreciate, the buy-and-hold strategy appears to be waning in popularity among investors. In May and July, net inflows of $2.1 billion and $3.2 billion were recorded, respectively. However, such inflows are unlikely in the current market climate. The report highlights that BTC spot ETFs are not currently driving an uptrend due to ongoing macroeconomic headwinds.
